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United States Natural Gas Message Board

  • stockgangster stockgangster Aug 24, 2007 5:42 PM Flag

    we are down to 5.43 in ah trading

    now. another 9c plunge on top of 10c down during the day trading. The monthly support of 5.46 is broken in ah trading and next support is 4.59. This is really getting ugly.

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    • Traders are shorting because inventory levels are good. Traditionally, NG valuers go up during winter. Unless we have a very mild winter, values will rise again.

      Of course a hurricane heading for the Gulf will change things in a heartbeat too. The more the market is shorted, the more violent the reaction when they will have to cover.

      In how far UNG will exactly will follow Nymex NG only time will tell.

      • 1 Reply to jai_alai_35
      • They will trace exacly with nymex ng per their 10Q. So that means we probabaly have another 15% (from 5.42 to 4.59 next support) down which makes UNG at some where between 29-30. But I think that will be worst case senerio. But anything can happen. NG trading is controlled by big boys on the wall street and they are crooks. they do whatever they want. But they can not make it too low since everyone will be buying like crazy and makes money that way. But 4.59 is really likely. Especially if crude oild does not hold and headed for the fall again. I will hold off on average down until that range. Hopefully that won't happen. But, I thought original 15% fall from 44 was already overdone, and now this.Those bustards are really gready and they want to get them as cheap as they can so get ready.

        USNG, a Delaware limited partnership, is a commodity pool that issues units that may be purchased and sold on the American Stock Exchange ("AMEX"). The investment objective of USNG is for changes in percentage terms of the units' net asset value ("NAV") on a daily basis to reflect the changes in percentage terms in the price of natural gas delivered at the Henry Hub, Louisiana as measured by the "Benchmark Futures Contract," also on a daily basis, less USNG's expenses.

        USNG seeks to achieve its investment objective by investing in a combination of natural gas futures contracts and other natural gas interests such that changes in USNG's NAV, measured in percentage terms, will closely track the changes in the price of a specified natural gas futures contract (the "Benchmark Futures Contract"), also measured in percentage terms. USNG's General Partner believes the Benchmark Futures Contract historically has exhibited a close correlation with the spot price of natural gas. It is not the intent of USNG to be operated in a fashion such that its NAV will equal, in dollar terms, the spot price of natural gas or any particular futures contract based on natural gas. Management believes that it is not practical to manage the portfolio to achieve such an investment goal when investing in listed natural gas futures contracts.

8.50+0.04(+0.47%)Aug 26 4:00 PMEDT